The primary purpose of this study is to develop and test the efficacy of a new cognitive-behavioral treatment, multiple channel exposure therapy (M-CET) for female crime victims who have PTSD and panic attacks. M-CET is adapted from cognitive processing therapy and stress inoculation training for PTSD and mastery of anxiety and panic treatments. Utility of this treatment approach is based on high prevalence of PTSD and panic attacks, learning and information processing theories, and Lang s (1968) hypothesis and theory that the response system is made of three channels: physiological, cognitive, and behavioral. Generally, cognitive behavioral treatments for PTSD based upon this theory are hypothesized to work by exposure to the feared memory of the traumatic event or by exposure to cues that are not in and of themselves dangerous but which become associated with fear at the time of the traumatic event. During the course of these treatments, the patient initially experiences high levels of physiological arousal which, with successful treatment, decrease over the course of repeated sessions until extinction occurs. However, the patients who have panic attacks and who are fearful of the attacks may have symptoms that are very overwhelming and thus the treatment may not be feasible. M-CET is unique in that it will provide exposure to physiologic arousal symptoms prior to cognitive and behavioral exposure. This is hypothesized to decrease fear of physiological symptoms experienced in panic and PTSD, thus when exposure to traumatic memories and cues is conducted, clients will be less fearful of the physiologic reactions. This project proposes the further development of M-CET by producing treatment manuals and collecting pilot data. Participants will be 48 female victims of crime who meet criteria for PTSD and panic attacks and are at least 3 months post-assault. Participants will be randomly assigned to M-CET or a minimal attention condition. Assessments in both conditions will be conducted pre- and post-treatment. Subjects in the minimal attention group will be offered treatment immediately after post assessments. Participants in the M-CET condition will be assessed again at 3 and 6 months post treatment. Results from pilot data will be incorporated into treatment manuals for further investigation of this treatment.